March 5, 2014

Finland named one of the innovation leaders in EU

Finland ranks amongst European Union's innovation leaders with Sweden, Denmark and Germany.
Finland ranks amongst European Union's innovation leaders with Sweden, Denmark and Germany.
EU comission

European Commission has named Finland as one of the European Union innovation leaders. The commission names Sweden, Denmark, Germany and Finland as the top countries amongst European Union member states.

The rankings are based on the commission’s innovation union scoreboard (IUS) 2014 which takes into account enablers of innovation such as human resources, research systems, finance and support.

According to the scoreboard, Finland’s innovation performance increased until 2011 and remained stable in 2012 and 2013. Finland is performing above the average of the EU for most indicators.

Finland’s strong position is reflected in international scientific co-publications, research & development expenditures in the business sector, number of new doctorate graduates, and license and patent revenues from abroad.

In a global context South Korea, the US and Japan lead in innovation over European Union. According to scoreboard, the United States and South Korea outperform the European Union both by 17 per cent and Japan by 13 per cent. While the gap between the US and Japan and EU has been decreasing, it has been widening with South Korea.

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